Another Pricing Question.

[TimnAng 56]

I'm struggling to work up the quote for this job.  The person that wants the work, is someone I've known for years, so I don't want to kill 'em pricewise, but I'm not about to lose money either.  I could use your expertise!

 

They want 10 of everything.  The price I came up with was $60 per truck, and $20 per sign.  I'm giving myself a headache over this!  The designing didn't take much time at all, and they're looking to self-install.

 

Here are the images of the designs we'll be cutting. 

 

The signs will be 18x24 coroplast, double sided-  Black lettering, brown & green tree.

Truck will be 23x20 for the main graphic-  White lettering, brown & green tree.

Extra lettering, all 2" letters cut in white.

 

 Help!  

 

 

 

[tekcorps 50]

Seems real cheap to me.

[TimnAng 56]

TOO cheap?  The only jobs we've done at this point have been smaller window decals for cars/trucks, and larger wall art.  I've never done anything of this size.  I've tried to search and see what I could find that's comparable, but I wanted some input before I give them the quote.

 

If it was you doing the job, what would you charge?

[tekcorps 50]

Are you installing the truck graphics? Is that a pair for 10 trucks or pair for 5 trucks? What type of vinyl are you using? There are several ways to figure it. Everyone has a different method. But you can figure out the square inches per color x .05-.10 cents, depending on vinyl type. Mark up coro 50-100%. If installing truck graphics, maybe 30 mins each. Figure total labor time x your hourly rate. Personally, I wouldn't give a break on 10. And remember, double sided on coro. so each one is nearly x 2 per sign board.

[TimnAng 56]

A pair for 5 trucks. (So 10 sets of graphics & lettering in total)  They're doing the install themselves.  I'm using Oracal 651 for the vinyl.  

[tekcorps 50]

I would be .07 cents per square inch per color and 100% mark up per board. Double sided three color coro total I'd be around $35.

[Coaster36 327]

Are you still making money at your prices? Do you know how much it costs you in material? How much is your design fee? You have to know these things so you can price your jobs correctly.

 

Charge what you're comfortable with. If you think its too cheap, then charge more. Too much? Charge less. Its your business. 

[TimnAng 56]

Seems crazy high on the coro, when they can go almost anywhere else and have them done cheaper- especially if they find somewhere that will print them.  Maybe I should sub the signs out, I wouldn't be losing the whole deal due to cost, and someone else could make a few bucks on it as well.  

[TimnAng 56]

That's the problem Coaster, I guess I really need to sit down and figure out my exact cost in material.  For the smaller jobs I've been doing, I've been "winging it" and going with the Height + Width/ 2... and that works out well.  Being asked to quote this large job has thrown me and I'd love to do it for the experience and word of mouth.  So I'm afraid if I price too high, they'll go elsewhere.  

As far as the design fee on this particular job, it took me next to no time because they gave me very specific details on what they wanted.  So I didn't figure that in, it only took me maybe 30 minutes to throw it all together for them.  And there were no re-do's, everything I showed them was spot on with what they wanted.  

[tekcorps 50]

You are absolutely right on the coro. That is why these normally are printed unless its a simple single color. I would bet you that after your cut, weed, apply 3 colors to two sides on ten signs you would think $20 is too cheap. Let me ask you this... what is your hourly rate? How long will it take you to do 10 3-color double sided signs?

[Ravenwind / One Off Grafx 187]

well take the price of the 4 rolls of vinyl add 1 roll of app tape and 10 sign blanks. see what that comes up to. That would be the lowest i would ever go. Cutting a friend a deal and cutting your profit line are two different things.

[Monkey 252]

I use this to give me a base line when coming up with some prices.

 

http://thesignexpert.com/TheSignExpert.com/Sign_Business_Free_RTA_Vinyl_Price_Calculator.html

 

I also have a spreadsheet that I have all my costs for my different vinyls and tape etc that shows me what it costs me so I can see if Im making enough profit, and labor if Im installing. Depending on install I sometimes do it free the first time to get my foot in the door and get more business out of it. Like I just installed 2 mirror decals in a factory this week, that same day I get told they now want over 40 more for their different plants, that I dont have to install. So 15 minutes of my time landed me back a bunch more business and money in my pocket.

[xpaperman 719]

Plus you said it was for a friend.  I understand wanting to keep the cost down for a friend and you also mentioned word of mouth etc.  So here is my take:  Bottom line is you have to know what your COST IS!   First, figure out how much the coro is.  Then figure how much vinyl you are using.... (I go by linear feet instead of square inches that way the customer is paying for the scrap too!)   Now you know what your material cost is.  Now you can adjust from there.... 

 

Even at cost you should bump that price up to cover mistakes and screw ups just in case.  Then comes the important question... how much time will it take you and.... HOW MUCH IS YOUR TIME WORTH TO YOU?  Keeping mind it is a friend and you want to give them a good deal you might have to just "give away" a little time to make it work for both parties.  You could donate your time for the exposure or just discount your rate.  You have to decide that.  

 

Bottom line tho, in my opinion, is you want to always make sure your material costs are covered, how much you make from there is up to you.  Pricing things for friends can be so touchy.... I hate it.  Like when they say "this is for work so don't be afraid the charge me regular price cause work is paying for it anyway"  then you give them the price and their jaw hits the floor..... "I thought you were doing me a favor"  WTF?  LOL

[Smokem 35]

My two cents

Cost is rarely the only consideration to a buyer.

Confidence is critical.... 
Do I like and trust the work of the provider.?
Will he deliver on time?

Will it be a quality product?
Is it what I want?
Do I want to start my hunt all over again?

Depending on the size and scope of the job, I am going to go to the place
that I am comfortable with....... Unless the price is way out of line....
I am on board and ready to rock.....

Quality and confidence always beats cheap

[tekcorps 50]

Bottom line... figure all material costs, then decide what YOU are comfortable with making on the job.

[TimnAng 56]

Thanks for the input, everyone!  I'll get the hang of this yet.

[tekcorps 50]

Yes you will.   Main thing is don't make it a complicated thing when pricing. Just don't cut yourself short.

[TimnAng 56]

I sent the quote over... and gave her the option of doing the full job at once, or half now, and half later if needed.  (All material costs will be paid up front as a deposit though).  Thinking maybe that way she won't feel so shell shocked.  Haha.  We'll see... fingers crossed!

[xpaperman 719]

Yes you will.   Main thing is don't make it a complicated thing when pricing. Just don't cut yourself short.

 

 

Right!  You don't want your quote time to be equal to your actual time spent doing the job.  I had mentioned before how I do it.  When I order my vinyl and it comes in, i figure my cost (per linear foot) and jot that inside the end of the tube.  That way I know what my cost is on that roll on the fly.  No guessing and no looking for invoices.

[Coaster36 327]

Good idea xpaperman about putting the price in the tube. 

[TimnAng 56]

I like that idea, about the pricing on the inside of each roll.  I'm going to start doing that as well. 

 

I went over my numbers again, and changed it just slightly.  

 

I went with $25 per sign and $65 per truck, per side.  So bringing me to a total of $900.  With a deposit large enough to cover my materials for the entire job.  She called me just a bit ago, and they want us to do the job.  

 

Thank you all again, for your help!  When I quoted her the job, I did let her know that it was less than I'd normally quote, because we've known one another for so long, and that if anyone asks her what she paid, she needed to make it clear that every job price varies, and that the price she received would not likely be the price another would be quoted.  

 

Could I have charged more for the job?  Probably.  But, making a little less on this one and getting my foot in the door and the experience and exposure is definitely worth it.  It'll be a great job to add to my portfolio for sure!  

[Coaster36 327]

Dont feel bad about charging to little. 900 payed for way more then the material so it put a nice chuck of change in your pocket. Id be quite happy.

[TimnAng 56]

Thanks Coaster, I'm really happy with the price I gave them.  They're happy, and there's enough profit to make it worth it.  

[Monkey 252]

Also think of it as good advertising for you. People WILL ask who did their vinyl work.

[TimnAng 56]

That's what I'm thinking.  I'm going to give him a bunch of our business cards with the order so he has them to give out-  and even if we get one job from his- I'll be happy.